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The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation: The only asset not listed is short-term investments. The
The following December 31, 2021, fiscal year-end account balance information is available for the Stonebridge Corporation:
The only asset not listed is short-term investments. The only liabilities not listed are $44,000 notes payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is 1.8:1. Required:Determine the following at December 31, 2021:
1. Total Current Assets:
2. Short-Term Investments
3. Retained Earnings
Cash and cash equivalents Accounts receivable (net) Inventory Property, plant, and equipment (net) Accounts payable Salaries payable Paid-in capital $ 6,400 34,000 74,000 190,000 53,000 14,000 170,000Step by Step Solution
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